After commenting in another thread about a modest analog rig being better than a very expensive digital/DAC system I threw together some odds and ends I've got sitting around gathering dust.
Speakers, Paradigm Titans about $100 mine are 14 years old.
Turntable, Technics SL-D2, if you find one in good condition between $150-$200. I decided to give mine another try and so far it's running perfectly...thought I might have to spend some money getting it tuned up.

At a guess about 30 years old.
Cartridge, Grado Black about $70, less than 3 years old. Funny when I was playing this cartridge with my nice separate phono stage it had a definite lisp but now using built in phono stage of the vintage receiver it sounds way better. For $70 I am really impressed and am using it to play 'dodgy' old vinyl, it's a lot more forgiving than my primo rig.
Receiver, Sansui G-4700 bought locally off a vintage collector about 2 years ago now. It's been brought back up to spec and looks really nice. Cost me $100 and it sure sounds good. When I was using this receiver to listen to CD's and digital stereo from my cable box it didn't sound right...don't know how to explain it but almost like it was out of phase.(Which of course it isn't) Listening to my vinyl this receiver shines.
Throw in about $30 for decent connectors/wire and there you have it a very nice modest system for analog that leaves you plenty to spend on vinyl.
Total cost = $470
I'm listening to it right now while I'm typing this, and just proves you don't have to spend $1000's to get nice sound...of course that didn't stop me when I upgraded my main system over the last year...